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1. Could you explain me how to set tp1, tp2 and tp3, because i did not understand this.
Case1:
Basically, place TP according to the SR provided by the indicator.
Somehow, you must need to go to larger TF to look for any posible TL or SR zone by naked eye. Bcoz those zone is more important compared to the SR provided by the indicator.
Case2:
With divergence.
Target for +ve divergence is the Previous HL.
Target for -ve divergence is the Previous LH.
Refer to attach file.
Quote:
2. Do you always looking for divergences in TF1 or TF4, before you enter a trade, or is this only for confirmation for a better "entry" chance.
For the divergence case, it could be both way.
Either I saw a divergence, and I find entry at 15m.
Or I saw an entry in 15m, then I use divergence as supporting detail.
Try to post some example of your trades and I will try to explain further.
Image explained thousand of words.
here's a great indicator that shows the 1,2,3 positions on your chart, so you don't even have to figure them out yourself. This is a very simple system that works most of the time. No 100% winners in forex. Also, as MP said, never go against the MA. Only go long when above, and short when below. I like your take profit areas.
There's a very good write up on the 1,2,3 system. Basically, it's a prediction of price action. Hope this indi helps.
Quote:
Originally Posted by mphpopular
take LONG when 123 above MA
take SHORT when 123 below MA
here's a great indicator that shows the 1,2,3 positions on your chart, so you don't even have to figure them out yourself. This is a very simple system that works most of the time. No 100% winners in forex. Also, as MP said, never go against the MA. Only go long when above, and short when below. I like your take profit areas.
There's a very good write up on the 1,2,3 system. Basically, it's a prediction of price action. Hope this indi helps.
The indy looks well. But it makes the chart quite messy whereby I cant concentrate on the price action. Still, i prefer using naked style.
Btw, you program it yourself? I nvr knew indy could recognize 123 formation
Linear Mode
